This study examines whether behavioural biases influence currency hedging strategies among marine exporters in Odisha, a major contributor to India’s marine export economy and a sector highly exposed to foreign exchange risk due to its dependence on global markets. Drawing on prospect theory, the research investigates the role of loss aversion, regret aversion, and mental accounting in shaping hedging decisions. Primary data were collected from 49 marine exporters out of the total population of 56 through structured questionnaires, and the data were analyzed using Cronbach’s alpha, KMO, Bartlett’s test, and binary logistic regression. The findings indicate that behavioural biases generally have a limited influence on currency hedging decisions. Loss aversion and mental accounting showed no statistically significant impact on major hedging strategies, suggesting that exporters’ decisions are largely driven by practical business realities and market considerations. However, regret aversion emerged as the only meaningful behavioural factor, significantly increasing the likelihood of using price adjustments such as increasing selling prices while reducing the preference for formal hedging tools like forward contracts. This suggests that regret-averse exporters prefer simpler strategies to avoid potential emotional discomfort associated with incorrect financial decisions. The study contributes to behavioural finance literature by offering sector-specific evidence and highlights the need for greater financial literacy and awareness of formal hedging instruments to improve forex risk management among marine exporters.